Bloomberg reported that Baosteel said that its VP Mr Zhihao Dai will join the board of Aquila Resources Ltd after receiving approval from Australia’s foreign investment regulator to buy a 15% stake in the Perth based company.
It said that “Baosteel is pleased with the Foreign Investment Review Board approval for the purchase, which represents a significant step forward in BaoSteel’s internationalization strategy.’
The Australian regulator’s approval was announced October 30th 2009.
